MNTN (NYSE:MNTN) Trading Up 7.2% – Should You Buy?

MNTN Inc. (NYSE:MNTN)’s share price traded up 7.2% during mid-day trading on Thursday . The stock traded as high as $10.73 and last traded at $10.64. 502,419 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 953,897 shares. The stock had previously closed at $9.93.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MNTN. TD Cowen upgraded MNTN to a “buy” rating in a report on Thursday, December 4th. Morgan Stanley dropped their price objective on shares of MNTN from $22.50 to $20.50 and set an “equal weight” rating on the stock in a research note on Tuesday, January 13th. Citizens Jmp set a $23.00 target price on shares of MNTN in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of MNTN in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded MNTN from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.55.

MNTN Stock Performance

The company has a market cap of $789.70 million and a price-to-earnings ratio of -6.90. The company’s 50 day moving average price is $10.46 and its 200 day moving average price is $14.38.

MNTN (NYSE:MNTN) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.17. MNTN had a negative net margin of 2.22% and a positive return on equity of 9.51%. The firm had revenue of $87.10 million during the quarter, compared to analysts’ expectations of $86.18 million. MNTN’s quarterly revenue was up 24.8% compared to the same quarter last year.

Institutional Trading of MNTN

A number of institutional investors and hedge funds have recently modified their holdings of MNTN. Mercato Partners Growth Iii GP LLC acquired a new position in MNTN during the 4th quarter worth $73,646,000. Wellington Management Group LLP boosted its stake in MNTN by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 5,730,723 shares of the company’s stock valued at $68,425,000 after purchasing an additional 385,421 shares during the period. Bienville Capital Management LLC increased its position in MNTN by 49.4% in the 4th quarter. Bienville Capital Management LLC now owns 919,052 shares of the company’s stock worth $10,973,000 after buying an additional 303,905 shares during the period. Federated Hermes Inc. lifted its holdings in shares of MNTN by 4.6% during the fourth quarter. Federated Hermes Inc. now owns 680,000 shares of the company’s stock worth $8,119,000 after buying an additional 30,000 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of MNTN by 787.7% in the third quarter. Vanguard Group Inc. now owns 621,392 shares of the company’s stock worth $11,527,000 after acquiring an additional 551,392 shares during the last quarter. 72.90% of the stock is currently owned by institutional investors and hedge funds.

About MNTN

MNTN is a software platform specializing in connected television (CTV) advertising, offering marketers the tools to plan, launch and measure streaming TV campaigns. Its platform enables brands to reach audiences across major OTT and CTV channels, helping advertisers target viewers based on demographic, behavioral and contextual data.

The company’s core product suite includes campaign management, real-time bidding and performance analytics. MNTN integrates with leading streaming services and ad exchanges, allowing clients to execute programmatic buys, track view-through conversions and optimize media spend through automated reporting dashboards.

Founded by experienced digital advertising professionals, MNTN is headquartered in Austin, Texas, and primarily serves brands and agencies across the United States and Canada.